April 06, 2006 07:47 ET

Cardinal Resources plc Appoints Alfa Capital Markets as New Broker

LONDON--(CCNMatthews - April 05, 2006) - Cardinal Resources plc (AIM: CDL) ("Cardinal" or "The Company"), an independent oil and gas production and exploration company operating in Ukraine, announces that it has appointed Alfa Capital Markets as its broker, effective today.

"I'm pleased to welcome Alfa as Cardinal's new corporate broker," said Robert J. Bensh, Cardinal's Chairman and Chief Executive Officer. "As one of the largest banks in Ukraine, Alfa has considerable experience and local presence that will greatly assist Cardinal in its goal to become the leading independent oil and gas producer in the region."

Simon Roache, Chief Executive Officer of Alfa Capital Markets, commented, "I am delighted to announce Cardinal Resources as Alfa's first UK nominated broker client. Our dedicated sales and research teams in London are eager to introduce Cardinal to our broad range of institutional clients and support them in fulfilling their capital markets objectives."

Notes to Editor

Cardinal Resources plc

Cardinal Resources plc is an independent oil and gas production and exploration company with assets in Ukraine. Cardinal is an experienced operator in the country focused on expanding its existing operations through the farm-in or acquisition of additional upstream oil and gas assets that can be further developed through the application of modern technology and expertise.


Alfa-Bank is one of Russia's largest privately-owned banks, present in every key sector of the financial services industry. Alfa Capital Markets is the FSA-registered London arm of Alfa-Bank's international investment banking business and the only subsidiary of a major Russian/Ukrainian banking group to be represented in London. The London office serves an international, institutional client base and provides a unique insight into the Russian and CIS capital markets. Brokerage and trading are provided by an experienced team of over a dozen professionals. A dedicated London-based research team contributes to Alfa-Bank's broader research effort.

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